May 2017

Hi – Have you had any of these?

Missed or Late Payments ?

Defaults or ccj’s ?

Debt Management Plan ?

IVA current or cleared ?

FREE Mortgage or Loan review – can we reduce your costs?

We know that life isn’t always as straightforward as some mortgage lenders want it to be.

We’re not all working regular hours, some of us are self-employed, others have a less-than-perfect credit history, but none of this should automatically prevent people from getting a mortgage that’s both affordable to them and right for their circumstances.

Impartial advice

We don’t favour any lenders – we only care about finding you the perfect mortgage.

In 2017 there are now quite a few mortgage lenders prepared to look at giving people a mortgage who have a current IVA or previous IVA. Typically they want to lend IVA mortgage of 75% ltv or less if the IVA is recent, but they can go upto 85% or even higher if its been cleared for more than 4 years.

Oct 2015 –

A HUGE thank you to Santander for recommending us to their clients they cant help !

Santander IVA ? – It was great to hear from a client in my meeting with them, when I asked how did you find out about us ? that Santander had pointed her towards our website and said” they should be able to help you “ as they couldnt help due to her previous IVA – Full article here

Experian Credit Report and IVA / Bankruptcy discharge

Experian says my IVA / Bankruptcy will not show on my credit report anymore – 6 years from its start date…..

Well that might be true for Experian and your credit report, however if you are applying for credit and in particular a mortgage the question lenders ask is not does it show on your credit report but ” Have you ever had an IVA or Bankruptcy – if so what date was it issued and what date was it discharged?

We sometimes get asked, “ well I could apply and not tell them – they wouldn’t know ! ” – Our response to that is BE VERY CAREFUL ! firstly you are committing fraud, by falsely declaring and omitting things on a mortgage application – We really would NEVER condone anyone doing that ! It’s madness – Lenders always do very detailed hunter searches not just on the insolvency register before they issue funds and if you are found committing fraud – well not only will they rescind the mortgage offer, but worse if the funds have been issued and your in your property they can and will demand the money back in full immediately – and no other lender would step in , in those circumstances – Our advice ALWAYS declare any and all adverse credit. – Secondly there are some really good IVA mortgage and discharged bankrupt mortgages out there – so why even bother !

Sept 2015

– if you are looking for mortgage advice with a current IVA or previous IVA, or perhaps you were made bankrupt a few years ago and are now looking for a mortgage that will accept ex bankrupts – then we may be able to help. Please see our separate pages on IVA mortgages and ex bankrupt mortgage for more details and typical mortgage lending available..

We are proud to be involved with one of the largest mortgage advice networks around that allows us to have a whole of market offering for UK mortgage advice and also access to some great UK mortgage lenders deals. Please note we only offer mortgage advice uk wide. If you are looking for mortgage advice and service from a UK Mortgage Advice Company that is not tied to any other, you should come to us. We will give you the right mortgage advice to help you onto the lowest cost deal to suit your circumstances.

Getting a good mortgage deal is more important due to the recent credit crunch, lenders are being cautious about lending and that makes finding the right mortgage deal that suits you harder to find.

Want to check up on your iva ? or Want more information , you can search the Insolvency Register here

IVA Mortgage — despite the credit crunch there are still mortgage lenders willing to lend you a mortgage with a current IVA. The maximum LTV is restricted. If you are in an IVA ( Individual Voluntary Arrangement), then providing it has been running at least 6 months and has no missed payments there are lenders that will offer an IVA mortgage.

Although an IVA puts a strain on your credit and thus your borrowing ability, it does not prevent you from getting a mortgage.

Unlike bankruptcy, you can get mortgage or remortgage your home, whether you are in an IVA or have previously been in one.

If you want a mortgage with a current IVA perhaps as part of the 4th year settlement -, then please get in touch as they need careful handling to ensure they complete swiftly and successfully. We also want a long term relationship helping you our of your IVA and rebuilding your credit rating to get you back into mainstream lending as quickly as possible.

If circumstances such as divorce, illness or redundancy have left you in bad credit and you have consequently entered into an IVA then an IVA remortgage may be the solution. It doesn’t matter if the IVA is in it’s infancy or has been paid off, an IVA remortgage will allow you to release valuable equity from your home amongst other benefits. The usual reason for apply for an adverse credit remortgage is to pay off an IVA early, usually the fourth or final year.

Remortgaging could release thousands of pounds from your home and a bad credit score or an Individual Voluntary Arrangement (IVA) doesn’t have to stand in your way. An IVA remortgage could be the answer.

Ex Bankrupt Mortgage — sometimes referred to as a discharged bankruptcy mortgage – despite the credit crunch there are still mortgage lenders willing to lend an Ex Bankrupt a mortgage. Having discharged your bankruptcy you are now free to rebuild your credit rating with lenders.

Individuals who are currently bankrupt will not be able to obtain a mortgage by law. However if you’re a discharged bankrupt you are able to apply for a mortgage and some lenders may consider the case.

Discharged bankruptcy mortgage help

As soon as you are discharged from bankruptcy you are free to apply for borrowing facilities again, including mortgages. The Enterprise Act which was introduced on 1 April 2004, reduced the discharge period from three years to 12 months. However the bankruptcy information remains on a credit file for six years from the date of the order and most high street lenders will continue to treat you as a bankrupt and will decline to offer any kind of finance.

Fortunately some specialist lenders recognise that a history of bankruptcy is not necessarily an indication of a borrower’s ability to repay their mortgage and there are a number of products available.

As a specialist broker we have expertise in helping discharged bankrupts secure mortgage finance.

You are free to apply for borrowing facilities such as a discharged bankruptcy mortgage as soon as you are discharged from bankruptcy. Unfortunately, most high street lenders may still view you as bankrupt, even if you have been discharged, but there might be some which will be prepared to look at your individual circumstances and provide you with a ex bankrupt mortgage or discharged bankrupt mortgage. The maximum LTV will be restricted to around 70%. If you are in an Ex Bankrupt, and providing it has been cleared at least 1 month there are lenders that may consider offering you an Ex Bankrupt mortgage. If you were discharged 1 year, 2 year or 3 years ago then the chances of getting a discharged bankruptcy mortgage gradually increase as the longer you have been rebuilding your credit history and credit profile.

Shared Ownership Mortgages – (Up to 100% of your share) — Shared Ownership Mortgage schemes are used for part buy, part rent schemes commonly known as shared ownership. hen you buy a shared ownership property, you only buy a percentage stake in the property, usually 25 to 50 per cent – from a housing association. Although this can be affordable, as you only own a percentage of the property you will miss out on some of the equity growth if the housing market rises.

Compare shared ownership mortgages available in the UK and find the right deal for your new mortgage in minutes. We make it simple to search and compare the mortgage interest rates available for shared ownership homes whether or not you are a first time buyer.